Communication - Press

Bahrain central bank cuts rates by 25 bps

The Central Bank of Bahrain yesterday cut its one-week deposit facility to 2.5 per cent from 2.75pc. It also reduced the overnight deposit rate to 2.25pc from 2.5pc, and the lending rate to 4.25pc from 4.5pc. It also cut the one-month deposit rate to 2.85pc from 3.1pc. 

Saudi Arabia and the UAE’s central banks also cut key interest rates yesterday, but the Kuwaiti central bank kept its key policy rate unchanged.

The Saudi Arabian Monetary Authority cut its repo rate to 275 basis points from 300 bps, and the reverse repo by the same margin to 225 bps.

The UAE’s central bank cut its repo rate by 25 bps, effective from today. 

Source: http://www.gdnonline.com/Details/581856